Saturday, 15 August 2009

The Bankers Defy Tory Bonus Criticism

Yet again The Conservative Shadow Chancellor George Osborne is making story lines now over bonus criticism. He said handing out large pay awards was “unacceptable” for any bank which was backed by state guarantees.

Because the banking industry has hit back at calls from the Tory to clamp down further on big bonuses in banks .The British Bank Association (BBA)said pay rules were already”more stringent” than in any other country.

The Financial Services authority (FFA) said the Tories had not taken part in a previous consultation on the issues.